With its record-setting year, Welltower’s MOB portfolio now totals 30 million square feet
By John B. Mugford
Among the facilities that Welltower agreed to acquire from Hammes Partners is the 166,000 square foot Baylor Scott & White Texas Spine & Joint Hospital in Tyler, Texas. (Photo courtesy of Welltower)
A year ago, Toledo, Ohio-based Welltower Inc. (NYSE: WELL) was featured in this space after it announced total acquisitions, in both seniors housing and medical office buildings (MOBs), in 2018 of about $3.4 billion.
About $560 million of that 2018 total was invested in MOBs, a strong showing for the publicly traded real estate investment trust (REIT) that had been on the “sidelines” of making purchases for a multi-month period spanning from the latter part of 2017 and into 2018.
Well, as 2019 was coming to a close it was looking as if Welltower was likely going to break the all-time, single-year MOB acquistions record for a single entity.
Welltower Inc.’s Chairman and CEO Thomas J. DeRosa told analysts on Oct. 29 that the real estate investment trust (REIT) had already grown its MOB portfolio “by approximately $2 billion” year-to-date in 2019.
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